Pretax Corporate Profits Drop 1.1% In Third Quarter

By Jeffry BartashMarketWatch Pulse

Adjusted pretax corporate profits fell at a 1.1% annual rate in the third quarter, government figures show. Adjusted profits dropped by an annualized $22.7 billion to mark the third decline in the past four quarters, the Commerce Department said Tuesday. Profit figures are adjusted for depreciation and the value of inventories.

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